Does a contract exist between the Thoelkes and the Morrisons? Discuss.

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Does a contract exist between the Thoelkes and the Morrisons? Discuss.

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The Thoelkes were owners of real property located in Orange County, which the Morrisons agreed to purchase. The Morrisons signed a contract for the sale of that property and mailed it to the Thoelkes in Texas on November 26. The next day the Thoelkes executed the contract and placed it in the mail addressed to the Morrisons’ attorney in Florida. After the executed contract was mailed but before it was received in Florida, the Thoelkes called the Morrisons’ attorney in Florida and attempted to repudiate the contract. Does a contract exist between the Thoelkes and the Morrisons? Discuss.

Explanation & AnswerSolution by a verified expert

Explanation

A contract exists between both parties under the acceptance rule, whenever the letter is put in the mail, an incompetent offer is accepted.
The repudiation is unsuccessful because when the letter is sent or mailed, a contract comes into existence, even though it has not been received by the attorney of Individual M.

Verified Answer

A contract exists between Individual T and Individual M. The deposited acceptance rule states that a letter is to be placed in the mail, the certified offer is then going to be accepted.
When the letter is mailed, the contract comes into existence. After when the letter was mailed, it was not received by Individual M's counsellor. This led to the repudiation being unsuccessful.

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